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Stephen Roach, one of Wall Street’s most prominent economists, is retiring from Morgan Stanley, the bank he joined in 1982.

Mr Roach has served as the non-executive chairman for Morgan Stanley Asia since 2010, having previously worked as chief economist. He will give lectures at Yale University.

The 66-year-old is a noted analyst of the rise of China. He has been highly critical of the way that Western central bankers handled both the lead-up to the financial crash and its aftermath, and said they had “lost their way”. In 2007, he predicted the US faced stagnation because of the likely